Market Overview

Benzinga's M&A Chatter for Monday December 16, 2013

Benzinga's M&A Chatter for Monday December 16, 2013

The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday December 16, 2013

AerCap to Acquire AIG's ILFC Unit for $3B in Cash Plus $97.56M AER Shares

The Deal:
AerCap Holdings (NYSE: AER) announced Monday that it has entered into an agreement with American International Group (NYSE: AIG) to acquire 100% of the common stock of International Lease Finance Corporation, a wholly-owned subsidiary of AIG. AIG will receive $3.0 billion in cash and 97,560,976 AerCap shares under the agreement. Bloomberg first reported a potential deal on December 12.

The deal is expected to close in Q2 2014.

AerCap Holdings closed Monday at $33.17, a gain of 33%. AIG closed at $50.28, a gain of 1%.

Avago Technologies to Acquire LSI for $11.15/Share in Cash

The Deal:
Avago Technologies (NASDAQ: AVGO) and LSI Corporation (NASDAQ: LSI) announced Monday that Avago will acquire LSI for $11.15 per share in cash, or $6.6 billion. The deal is expected to close in H1 2014.

LSI Corporation closed Monday at $10.96, a gain of more than 38%. Avago closed at $50.10, gaining almost 10%.

Report Comcast Exploring Three Options for a Time Warner Cable Takeover

The Rumor:
Reuters reported Monday that Comcast (NASDAQ: CMCSA) is considering three potential options for a Time Warner Cable deal, including a full takeover, a bid with another cable company, other than Charter Communications (NASDAQ: CHTR), or purchasing selected TWC markets.

On Friday, Bloomberg reported that Charter was preparing a bid of less than $135 per share in cash and stock to acquire Time Warner Cable. Comcast, Charter and Cox Communications have been all been mentioned as potential bidders for TWC.

None of the potential parties would comment.

Time Warner Cable closed Monday at $132.09, a gain of $0.68.

CNBC's David Faber Says Sprint, T-Mobile US Not in Talks

The Rumor:
Share of T-Mobile US (NASDAQ: TMUS) pulled backed Monday on a report from CNBC's David Faber that the nation's fourth-largest wireless carrier and Sprint, the third-largest are not in merger talks. On Friday, Dow Jones reported that Sprint was working on a bid for T-Mobile and a deal could be announced in the first half of 2014, subject to potential regulatory issues.

T-Mobile US closed Monday at $26.39, a loss of 4.5%.

KKR to Acquire KKR Financial Holdings for $12.79/Share in All-Stock Transaction

The Deal:
KKR & Co (NYSE: KKR) and KKR Financial Holdings (NYSE: KFN) announced Monday an agreement whereby KKR will acquire KFN in an all-stock transaction, valued at $2.6 billion.

Under the agreement, shareholders of KFN will receive 0.51 common units of KKR for each common share of KFN, or approximately $12.79 per common share of KFN. Based on the December 16 closing price of KKR, that's a 35% premium to KFN's closing price on December 16.

The deal is expected to close in H1 2014.

KKR Financial Holdings closed Monday at $9.45, but traded at $12.45 after-hours, a gain of more than 31%.

Endo to Acquire NuPathe for $2.85/Share in Cash, Plus Additional Payments of Up to $3.15/Share

The Deal:
Endo Health Solutions (NASDAQ: ENDP) announced Monday it will acquire NuPathe (NASDAQ: PATH) for $2.85 per share in cash, or approximately $105 million. In addition, NuPathe shareholders will receive rights to receive additional cash payments of up to $3.15 per share, based on net sales of NuPathe's migraine treatment ZECUITY.

The deal is expected to be completed in early 2014.

NuPathe closed Monday at $3.39, a gain of more than 47%. Endo Health Solutions closed at $65.91, gaining 3%.

Valeant Pharmaceuticals to Acquire Solta Medical for $2.92/Share in Cash

The Deal:
Valeant Pharmaceuticals (NYSE: VRX) announced Monday that it will acquire all of the outstanding common stock of Solta Medical (NASDAQ: SLTM) for $2.92 per share in cash. The transaction is expected to close in Q1 2014.

Solta Medical closed Monday at $2.92, a gain of almost 40%. Valeant Pharmaceuticals closed at $110.92, a gain of almost 4%.

Posted-In: M&A News Rumors Movers


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